IQIYI

iQIYI

Screenshot  Screenshot of iQIYI home page
Type of site	Video on demand
Headquarters	Beijing, China
Founder(s)	Gong Yu
Key people	Tang Xing (CTO) Ma Dong (COO)
Industry	Internet, Entertainment industry
Parent	Baidu
Website	www.iqiyi.com

iQiyi is an online video platform based in Beijing, China launched on April 22, 2010. iQiyi is currently the largest online video site in China.

iQIYI was founded on April 22, 2010 by Baidu, which is China’s largest online search engine, and Providence Equity Partners. On November 2, 2011, iQIYI purchased the online license for Transformers 3 in mainland China from Paramount. On November 2, 2012, Baidu bought Providence’s stake and took 100% ownership of the site. On May 7, 2013, Baidu purchased the online video business of PPStream Inc. for $370 million, which became a subsidiary of iQIYI. On July 17, 2014, the site launched its film production division, iQIYI Motion Pictures, to expand existing cooperative projects with overseas peers, including purchasing releases and co-producing movies. On September 4, iQIYI cooperated with Venice Film Festival, streaming of the festival’s movies online. On August 2014, iQIYI generated over 6.95 billion hours of viewing on its website. On September 17, 2014, iQIYI and Dolby launched a collaboration, allowing iQIYI to produce and deliver TV dramas in Dolby surround sound. In October, iQIYI participated in the Busan Film Festival, signing exclusive rights to nearly 100 South Korean titles. On November 19, 2014, Xiaomi and Shunwei Capital invested $300 Million in iQiyi for about 10 percent to 15 percent of the site, while Baidu invested an additional $100 million and held about 80 percent. On December 8, 2014, iQIYI's chief content officer Ma Dong said the portal planned to more than double original production in 2015, with at least 30 titles and 500 episodes on the slate compared to 13 in 2014. In 2015, iQIYI purchased the online copyrights of eight top entertainment shows in mainland China, and several entertainment shows in Taiwan and South Korea, including the Running Man. In March 2016, it announced it would launch in Taiwan. In June 2016 it reported it had 20 million subscribers.